HSBC chairman Mark Tucker takes leading role at insurer Discovery

Mark Tucker is expected to devote up to 25 days a year working for Discovery LimitedBobby Yip/Reuters

The chairman of Britain’s largest bank has taken on the chairmanship of the South African owner of one of Britain’s biggest private health insurers.

HSBC said yesterday that Mark Tucker, chairman for just over a year, would from next March become non-executive chairman of Discovery Limited, the Johannesburg-quoted insurance group, in addition to his duties at the London-based lender.

Mr Tucker, 60, spends about four days a week working on HSBC business for an annual fee of £1.5 million. He is expected to devote about 20 to 25 days a year working for Discovery, for which he will be paid £250,000 a year.

There is little overlap between HSBC and Discovery’s businesses, though the appointment could raise eyebrows with corporate governance advisers that have in…

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